Question: Valley Co, received a $200,000,90-day, 7% note, dated February 3 , from Mr. Potts in payment of his account receivable. (Assume a 360 -day year

Valley Co, received a $200,000,90-day, 7% note, dated February 3 , from Mr. Potts in payment of his account receivable. (Assume a 360 -day year when calculating interest.) a. Determine the due date of the note. b. Determine the interest. 5 c. Determine the maturity value of the note. d. Journalize the entry for the recelpt of the note from potts on February 3. If an amount box does not require an entry, leave it blank. Account Debit Credit e. Journalize the entry for the receipt of payment of the note at maturity by valley co. If an amount box does not require an entry, leave it blank. Account Debit Credit

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